1st Mar 2007 07:02
Thor Mining PLC01 March 2007 THOR MINING PLC Commencement of 2007 exploration program at Molyhil Dated: 1 March 2007 Thor Mining PLC ("Thor" or the "Company") the specialist metals companycurrently focussed on advancing tungsten-molybdenum and uranium projects in theNorthern Territory of Australia, today announced the start of its 2007exploration program on the Molyhil Tungsten-Molybdenum Project ("Molyhil") inthe Northern Territory of Australia. Highlights • RC drilling at Molyhil commenced this week; and • The 3,084m program is designed to infill and extend beyond the proposed DFS pit design. The aim is to increase the reserve and resources and ultimately extend the proposed life of mine. Summary A program of reverse circulation drilling totalling 3,084m has been designed toinfill and extend beyond the proposed pit design outlined in the recentlycompleted definitive feasibility study ("DFS"). The DFS confirmed the viabilityof a mining and processing operation based on a JORC compliant resource for theMolyhil deposit of 2.4 million tonnes grading 0.8% combined tungsten WO3 andmolybdenum MoS2 to a vertical depth of 150 metres. The operation would be based on an open pit mining operation and 300,000tpaprocess plant with an initial 4-year mine life. The proposed shallow (Related Shares:
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